One of the main topics in recent days was Friday's news about the bankruptcy of Silicon Valley Bank (SVB), one of the largest banks in the United States. Prior to that, on Wednesday, another U.S. bank, Silvergate, which provided loans to cryptocurrency exchanges and Silicon Valley startups, announced its closure due to financial problems, according to Forbes. Experts and investors fear that this is the beginning of the collapse of the U.S. banking sector, which could lead to a global financial crisis.
Last Wednesday, in addition to the news from Silvergate, there was a report from SVB about the loss of about $1.8 billion. Then, on Thursday, investors began selling off bank stocks, causing the capitalization of the four largest banks in the country by asset size - JPMorgan, BoA, Wells Fargo and Citigroup - to fall by more than $52 billion that day.
According to Forbes, U.S. Treasury Secretary Janet Yellen said that the U.S. government does not intend to save the SVB, where depositors' deposits were not insured. Meanwhile, financier and billionaire U.S. Bill Eckman warned that the consequences of this bankruptcy could lead to the collapse of the U.S. economy, and analysts fear a global crisis comparable to 2008.